Bill > HB259

This bill authorizes the State of Mississippi to issue up to $3,000,000 in general obligation bonds, which are essentially loans backed by the state's full faith and credit, to fund the repair and renovation of buildings and facilities at Mississippi Valley State University. The bonds will be managed by the State Bond Commission, which will determine their specific terms, including interest rates and maturity dates, which cannot exceed 25 years. The proceeds from the bond sales will be placed in a dedicated fund, the "2026 Mississippi Valley State University Repair and Renovation Fund," and disbursed by the Department of Finance and Administration for the specified campus improvements. Any remaining funds after project completion will be used to pay off the bonds. The bill also outlines procedures for bond issuance, sale, and legal validation, and specifies that these bonds will be exempt from state taxation and legal for investment by fiduciaries. No bonds can be issued under this act after July 1, 2030.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0259.xml